Hyundai Motor India IPO: 10 points you need to know ahead of ₹27,870 crore issue opening

Hyundai Motor India IPO: The Indian arm of Hyundai Motor Company, Hyundai Motor India Limited, will launch India's largest initial public offering on Tuesday, October 15. The IPO aims to raise ₹27,870.1 crore (around $3.3 billion).

This will be India's biggest IPO after ₹21,000 crore offering by state-run Life Insurance Corporation of India (LIC) in May 2022.

Hyundai Motor India IPO: 10 key things to know

• Hyundai Motor India bidding period: The issue will be open for public subscription from Tuesday, October 15 to Thursday, October 17. Pre-apply for Hyundai Motor India IPO.
• Hyundai Motor India anchor bidding: The bidding for anchor investors will take place on Monday, October 14. The company has set aside 4.24 crore shares for anchor investors.
• IPO offer structure: The company plans to raise around ₹27,870.1 crore. The initial public offering is an offer-for-sale (OFS) of 142,194,700 shares by parent Hyundai Motor Company. There is no fresh issue of shares.
• Hyundai Motor India price band: The price range has been fixed at ₹1,865-₹1,960 per share, valuing the carmaker at ₹1.6 lakh crore.
• Reservation: Half of the net issue is set aside for qualified institutional buyers, 35% for retail investors and the remaining 15% for non-institutional investors.
• Hyundai Motor India lot size: Investors can apply for a minimum of seven shares valued at ₹13,055 and in multiples after that.
• Objective: Since the IPO is entirely an OFS, Hyundai Motor India will not get any proceeds from the offer. The net proceeds will go to the selling shareholder.
• Book running lead manager and registrar: Citigroup Global Markets India Pvt Ltd, Kotak Mahindra Capital Company Ltd, HSBC Securities & Capital Markets Pvt Ltd, Morgan Stanley India Company Pvt Ltd and JP Morgan India Private Ltd are the booking running lead managers. Kfin Technologies Limited is the IPO's registrar.
• Allotment date: The finalisation of allotment is likely to take place on October 18.
• Listing date: The company's shares will be listed on the stock exchanges - the BSE and the NSE - on October 22.